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Dec 27, 2012
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for example, one big tax increase in the obama tax increase package is the capital gains tax rate is going to go up 58% on the higher income taxpayers. and so now in the last 50 years, every time the capital gains tax rate has been raised, capital gains revenues have declined rather than increased. and every time the capital gains tax rate has been cut, capital gains revenues increased rather than declined. and cbo has gotten it wrong every time over 50 years. and so whether you're deal -- what you're doing with obama is not just the expiration of the bush tax cuts, but obama tax goes into effect as well. the cap gains rate will go up 58% and this is going to lose revenue rather than gain revenue just as it has in the past. similarly, the tax increase on dividends. if the bush tax cut expires, along with the obamacare tax increase, the tax rate on dividends is going to increase -- actually triple. when bush cut the tax rate on dividends, dividends pay soared and so did the taxes napad on them as a result. if you reverse that tax cut and put the obamacare tax on top, dividends are goi
for example, one big tax increase in the obama tax increase package is the capital gains tax rate is going to go up 58% on the higher income taxpayers. and so now in the last 50 years, every time the capital gains tax rate has been raised, capital gains revenues have declined rather than increased. and every time the capital gains tax rate has been cut, capital gains revenues increased rather than declined. and cbo has gotten it wrong every time over 50 years. and so whether you're deal -- what...
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Dec 28, 2012
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a new tax coming out. the tax will be put on devices that range from mri's to prosthetics and items in every doctor's office and veterinary offices. it will be passed alongg to consumers and manufacturers say it will result in job loss and stifle innovation and upon send jobs over seas. we went to one manufacturer. adm electronics that employs 19 people to ask them what it means for their industry. >> your company is about to be hit with a 2.3 percent tax on medical devices. >> it means more. it is on gross sales and that can hurt the number of people working for us and number of sales and increase the costs of our device. >> this is a family run business and been in business 40 years. how does it plea out for your company? >> we tried not to lose our employees because we are like family and the devastating impact we may not be able to sustain the number of employees. >> we might have to lay someone off which i have never done before. it is it a tough thing to have to tell somebody. you have no job. >> and
a new tax coming out. the tax will be put on devices that range from mri's to prosthetics and items in every doctor's office and veterinary offices. it will be passed alongg to consumers and manufacturers say it will result in job loss and stifle innovation and upon send jobs over seas. we went to one manufacturer. adm electronics that employs 19 people to ask them what it means for their industry. >> your company is about to be hit with a 2.3 percent tax on medical devices. >> it...
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Dec 27, 2012
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just about everybody is going to have a tax increase. the number goes up significantly with incomes. if you are talking 200 to 500,000 in income almost 14,000 dollars in tax hikes. the wealthiest americans people that make a million dollars or more will pay an average of 216,000 dollars in additional tax that is money that would otherwise be spent to help boost the economy or invest it. this is a real concern for economists. the other wrench that was thrown in treasury secretary tim geithner says we are going to be up against the nation's debt ceiling a lot sooner than a lot of folks expected it will happen around the end of the year. they can use accounting gimmicks to extend that deadline for maybe a couple of months. but it would be part of any kind of a grand bargain. it is one more complication as the negotiations condition. >> doug luzader in washington thank you. >> thanks. >>> time now to entertain this. actress kate winslet officially tieing the not with her third husband ned rock and roll. he is the nephew of richard brans bran
just about everybody is going to have a tax increase. the number goes up significantly with incomes. if you are talking 200 to 500,000 in income almost 14,000 dollars in tax hikes. the wealthiest americans people that make a million dollars or more will pay an average of 216,000 dollars in additional tax that is money that would otherwise be spent to help boost the economy or invest it. this is a real concern for economists. the other wrench that was thrown in treasury secretary tim geithner...
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Dec 26, 2012
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minimum tax. there is an entire set of taxes that there are two methods of tax. if you're doing that, you're in a lower tax rate and certain things are not deductible for the alternative minimum tax. you can't deduct state income taxes or real estate taxes. so you really need to run the numbers for both years, look at some of the rate changes that you are going to know about, such as 3.8% investment income, medicare tax and other things, then make those decisions. >> gretchen: unfortunately, we don't know exactly what tax rate anyone is going to have because we still are in the fiscal cliff thing. you do recommend prepay state income taxes? >> if you're not in the amt, prepay state income taxes, prepay real estate taxes because you can get deductions. if you're deciding you want to save tacks for 2012. >> gretchen: prepay your 2013 mortgage so it can be included in 20 is it -- 2012. >> you can't pay your february one, but you can pay your january one because it's interest in december and you can g
minimum tax. there is an entire set of taxes that there are two methods of tax. if you're doing that, you're in a lower tax rate and certain things are not deductible for the alternative minimum tax. you can't deduct state income taxes or real estate taxes. so you really need to run the numbers for both years, look at some of the rate changes that you are going to know about, such as 3.8% investment income, medicare tax and other things, then make those decisions. >> gretchen:...
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Dec 29, 2012
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estate taxes. >> juliet: yeah. >> there are payroll tax issues. there's a whole host of alternative minimum tax that are important to small business owners. i have a lot of family business owners where the estate tax is very important to them. >> juliet: all right. bob russell, we appreciate you joining us today. it's obviously something that we all will be watching intently here at fox news channel. happy new year. all righty, coming up from the ice ages, punishment f, and banning bibles, the culture wars making news in 2012. we'll be right back. ♪ bye-bye miss american pie ♪ ♪ drove my chevy to the levee, but the levee was dry ♪ ♪ you lose through diet and exercise, alli can help you lose one more by blocking some of the fat you eat. let's fight fat with alli. ♪ >> and welcome back. as 2012 comes to a close, let's take a look at part two of some of the most important culture stories, clicked on the most on foxnews.com. >> dave: and fox radio correspondent here with a recap. todd, we remember the ice ages, essentially punished for doi
estate taxes. >> juliet: yeah. >> there are payroll tax issues. there's a whole host of alternative minimum tax that are important to small business owners. i have a lot of family business owners where the estate tax is very important to them. >> juliet: all right. bob russell, we appreciate you joining us today. it's obviously something that we all will be watching intently here at fox news channel. happy new year. all righty, coming up from the ice ages, punishment f, and...
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Dec 24, 2012
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e week before the taxes are going to sky rocket. steve is live in washington. >> good morning, gretchen and everybody. washington is shut down for the christmas holiday . when everybody does come back to town, the ball will be in the democrat's court because speaker boehner was unable to bring his on board. for the plan b. >> onous is on senator reid and the president to come up with a solution and present it to the house and get back to the bargaining table. >> now the president has insisted on a tax hike for the healthy but wants that at $250,000 or $400,000 and not one mill yen and even though the president scaled back his expectations for what can be accomplished some democrats said a grand bargain shouldn't be that hard to reach. >> we ought to take peeker boehner and the president's last offer and split the difference and it would be a package 2.6 trillion can couple that with 1.1 trillion and that would be close to four trillion needed to stabilize the debt and bring it down. >> the president and members was congress will ret
e week before the taxes are going to sky rocket. steve is live in washington. >> good morning, gretchen and everybody. washington is shut down for the christmas holiday . when everybody does come back to town, the ball will be in the democrat's court because speaker boehner was unable to bring his on board. for the plan b. >> onous is on senator reid and the president to come up with a solution and present it to the house and get back to the bargaining table. >> now the...
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Dec 30, 2012
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you know, for extending the bush tax cuts, is it 250,000 and above, that you let the taxes go up, is it 400, 500,000, ultimately what it comes down to, harry reid says i can get enough votes from democrats to support this plan. >> and democrats say and republicans say that would be about the 1 percent-ers, so-called 1 percenters would hit that 400,000 a year maybe higher, up to 500,000, what revenue does this generate? we've been hearing about this for a long time. what does it actually generate? well, if we take about 12.4 days to run the federal government, that's the amount of money extra that the government would bring in to run the federal government. that's how much we spend in 12 days. so, all of this fighting back and forth, that's why so much is being said or lack of-- i guess i should say, lack of being said about cuts. and the real way we can grow this economy is cuts. get all of this out of control spending in place first. >> dave: right, and just the conversation alone that we're now having, the american people are the loser in this deal because none of this talk is abou
you know, for extending the bush tax cuts, is it 250,000 and above, that you let the taxes go up, is it 400, 500,000, ultimately what it comes down to, harry reid says i can get enough votes from democrats to support this plan. >> and democrats say and republicans say that would be about the 1 percent-ers, so-called 1 percenters would hit that 400,000 a year maybe higher, up to 500,000, what revenue does this generate? we've been hearing about this for a long time. what does it actually...
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Dec 23, 2012
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he cut taxes everywhere except for that ratio. he cut capital gains tax. he got rid of them for 0 owner occupied homes. he cut tax on elderly workers and cut government spending by more than the last two presidents combined. just the opposite of president barack obama. >> why isn't president obama following that model? that model clearly had good results. why not do those things to capital gains taxes, et cetera? >> you've gone beyond my pay grade. every time you have the tax rate reductions, especially in the highest income groups, you have expansion like under kennedy, aig, bill clinton, hardy and coolidge. when you raise tax on the rich, you don't get your money and you cause recession or decline. it's common sense. you've never heard of anyone taxing an economy into prosperity. >> i go to you for the expertise but you make a compelling case. art laffer, former advisor -- >> by the way, alisyn. i saw the "fox & friends" team, sunday before christmas, drinking on the job. >> we were sniffing. >> okay. is that what you -- sniffing on the job. >> not drink
he cut taxes everywhere except for that ratio. he cut capital gains tax. he got rid of them for 0 owner occupied homes. he cut tax on elderly workers and cut government spending by more than the last two presidents combined. just the opposite of president barack obama. >> why isn't president obama following that model? that model clearly had good results. why not do those things to capital gains taxes, et cetera? >> you've gone beyond my pay grade. every time you have the tax rate...
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Dec 22, 2012
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i don't want to see taxes go up on anyone. i do think if we raise these tax rates on capital gains on businesses i do think it will hurt the economy. my goodness we have got to get this thing resolved. the truth is they are not really that far apart. i will make a prediction to you this morning. i think before december 31st or maybe on december 31st they are going to get this deal done. the ramifications of not doing it are so drastic drawsk for our economy. >> if history is any indication they do wait for the 11th hour and somehow they do it. you heard it hear first. stephen moore will have you back on after new year's eve. >> alisyn, you are going to be intight on january 1st. you will have the story first. it might go to 11:00 p.m. on new year's eve before they get this done. >> probably. >> we'll have something to talk about on new year's. stephan, thanks. >> see you guys. merry christmas. >> speak of the holidays and travel and everyone trying to plan their flights and car trips. how is it looking out there. >> not that b
i don't want to see taxes go up on anyone. i do think if we raise these tax rates on capital gains on businesses i do think it will hurt the economy. my goodness we have got to get this thing resolved. the truth is they are not really that far apart. i will make a prediction to you this morning. i think before december 31st or maybe on december 31st they are going to get this deal done. the ramifications of not doing it are so drastic drawsk for our economy. >> if history is any...
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at least through tax day. >> that is your new year's resolution. >> thank you for that. >> sure. >> house thousands of people are celebrating this morning at birthplace of jesus christ. joining us from bethlehem is leland vittert. good morning. leland. >> reporter: good morning. merry christmas. afternoon in bethlehem. if you look at mapger square, pilgrims from all over the world are streaming in. the christmas tree in manger square. back behind is the church of the nativity where the pilgrims make their way in and down into the grotto where it says jesus was born more than 2000 years ago. last night christmas eve mass inside the church. it is a magical experience. standing room only as well as thousands packed in to listen to the message of the latin patriarch who talked about peace and blessings this christmas season, declared the birth of jesus and earlier took a bit of a political bend as he started talking about this is not only celebrating the birth of jesus and the birth of a palestinian state at the united nations. that is a feeling we've gotten here, a very different feeling in
at least through tax day. >> that is your new year's resolution. >> thank you for that. >> sure. >> house thousands of people are celebrating this morning at birthplace of jesus christ. joining us from bethlehem is leland vittert. good morning. leland. >> reporter: good morning. merry christmas. afternoon in bethlehem. if you look at mapger square, pilgrims from all over the world are streaming in. the christmas tree in manger square. back behind is the church of...